Backblaze, Inc. reports developments in cloud storage, data protection, and infrastructure services for businesses, developers, managed service providers, and consumers. The company’s platform includes B2 Cloud Storage, an infrastructure-as-a-service cloud object storage offering, and Computer Backup, a software-as-a-service backup product.
Backblaze news commonly covers quarterly financial results, B2 growth trends, AI and data-intensive workloads, neocloud demand, media workflow partnerships, performance and network benchmark reports, channel recognition, leadership changes, and investor conference participation. Company updates also highlight use cases such as AI training data, generative media, application storage, cyber resilience, and critical data protection.
Backblaze (BLZE) published its Q2 2026 Drive Stats report, showing a quarterly annualized drive failure rate of 1.73%.
That compares with 1.24% in Q1 2026; the lifetime rate ticked up slightly to 1.41%. The report covers more than 350,000 production hard drives, and three models exceeded its 6.95% outlier threshold. Drives of 20TB or more now make up more than a quarter of Backblaze's fleet. Two long-serving HGST models were fully retired, while no new drive models entered the fleet for a second consecutive quarter.
Backblaze (BLZE) will sponsor, exhibit, and present at AI Infra Summit 2026 from September 15–17 at the Santa Clara Convention Center.
Solutions Engineer Kamren Mahaney will deliver a session titled “Architecting the AI Data Plane: Pack, Place, Prefetch” on Tuesday, September 15 at 1:00 p.m. PT in Expo Theater 1, outlining techniques for packing small files into training shards, placing data across object storage and flash, and prefetching to keep GPUs utilized. Backblaze will showcase its capacity storage layer for multi-petabyte to multi-exabyte AI workloads at Booth #1256 and highlight a recently announced collaboration with WEKA, with B2 Cloud Storage certification for WEKA NeuralMesh underway.
Backblaze (BLZE) and WEKA announced a collaboration to simplify AI data management across the full AI lifecycle.
The validated integration allows AI teams to run performance-sensitive workloads on WEKA NeuralMesh while storing large datasets, checkpoints and outputs in Backblaze B2 cloud object storage, with integration, sizing, tuning and testing already completed. Raw training data can reside in B2, be promoted to NeuralMesh for high-performance use, then returned to B2 when no longer latency-critical. WEKA’s Snap-to-Object feature, tested with Backblaze, supports reverting to checkpoints and recovering saved inference data from the same B2 capacity tier. Certification of B2 Cloud Storage for NeuralMesh is underway, and customers can contact either company to get started.
Backblaze (Nasdaq: BLZE) priced an upsized private offering of $175 million aggregate principal amount of 0.00% Convertible Senior Notes due 2031 to qualified institutional buyers under Rule 144A. Initial purchasers have a $26.25 million option, and closing is expected on August 24, 2026.
The Notes are senior unsecured, bear no regular interest and do not accrete, and mature on August 15, 2031, unless earlier converted, redeemed or repurchased. They are convertible into cash, Backblaze Class A common stock, or a combination, at the company’s election, at an initial conversion rate of 45.5705 shares per $1,000 (conversion price about $21.94), a 30% premium to the $16.88 share price on August 19, 2026.
Backblaze may not redeem the Notes before August 20, 2029; afterward, redemption is permitted if the stock trades at least 130% of the conversion price for a specified period. Holders may require repurchase upon certain fundamental changes at 100% of principal plus any special interest.
Backblaze expects net proceeds of about $167.2 million (or $192.7 million if the option is fully exercised), of which approximately $15.2 million will fund capped call transactions with financial institutions. The capped calls, with an initial cap price of $33.76 (100% above the reference stock price), are designed to reduce potential dilution and/or offset cash payments above principal upon conversion, subject to a cap. The remaining proceeds are intended for general corporate purposes, including capital expenditures.
Backblaze (Nasdaq: BLZE) announced a proposed private offering of $150 million aggregate principal amount of Convertible Senior Notes due 2031 to qualified institutional buyers under Rule 144A. Initial purchasers are expected to receive a 13-day option to buy up to an additional $22.5 million of notes to cover over-allotments.
The notes will be senior, unsecured obligations, convertible into cash, Class A common stock, or a combination at Backblaze's election. According to Backblaze, net proceeds will fund capped call transactions and be used for general corporate purposes and capital expenditures. The company also expects hedge-related share and derivatives activity by option counterparties.
Backblaze (Nasdaq: BLZE) reported Q2 2026 revenue of $42.7 million, up 18% year over year, led by B2 Cloud Storage revenue of $26.6 million (+34% YoY) while Computer Backup revenue was $16.1 million (-2% YoY). Net loss improved to $5.1 million (–$0.08 per share) and Adjusted EBITDA rose to $12.8 million, or 30% of revenue.
Annual recurring revenue reached $177.3 million (+21% YoY), with B2 ARR of $113.3 million (+39% YoY). Backblaze signed a 5+ year, $335 million strategic agreement with CoreWeave, contributing to total RPO of $396 million. For 2026, the company raised revenue guidance to $172–174 million and Adjusted EBITDA margin to 27–29%.
Backblaze (NASDAQ: BLZE) will exhibit and present as a Platinum sponsor at Ai4 2026, held August 4–6 at The Venetian Las Vegas, showcasing how its high-throughput B2 object storage keeps GPUs supplied for multi-petabyte, multimodal AI workloads in cloud and on-premises environments.
According to Backblaze, demonstrations will feature the Powered by Backblaze partner service, used by edge platform Azion after migrating nearly 1PB of data, and B2 Overdrive, which offers up to 1Tbps throughput with unlimited egress and API transactions. Director of Applied AI Jeronimo De Leon will lead a session on GenAI media data pipelines on August 4 at 4:40 p.m. PT. The company will also sponsor the Women in AI Reception on August 4 and host visitors at Booth #1248.
Backblaze (Nasdaq: BLZE) announced it will host an Investor Day on Wednesday, September 9, 2026, starting at 9:30 a.m. Eastern (6:30 a.m. Pacific) in New York, NY. Institutional investors and financial analysts can request in-person attendance via email, while a live webcast and replay will be available on the company’s investor relations website.
Backblaze (Nasdaq: BLZE) released its Q2 2026 Network Stats report, introducing a new variance-based analysis of network traffic volatility across AI, neocloud, hyperscaler, CDN, hosting, and ISP workloads. Findings show hyperscaler and neocloud traffic are far more volatile than traditional internet traffic, while CDN traffic is up 66% year-over-year and AI-related workloads are becoming more geographically dispersed, particularly in EU-Central. The full report and supporting charts are available on the Backblaze blog, alongside details of a July 28, 2026 webinar discussing the results.
Backblaze (Nasdaq: BLZE) plans to report financial results for its second quarter ended June 30, 2026 on Monday, August 3, 2026 after market close. The company will host a conference call and webcast at 2:00 p.m. PT (5:00 p.m. ET) the same day to discuss the results, with live access via webcast and phone registration links and an archived replay available later on its investor relations website.